| Health
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| Health insurance generally covers some
or all of the expenses related to hospitalization, surgery, physicians�
fees, prescription drugs and diagnostic procedures, among others.
Health policies can offer many options and vary in their
approaches to coverage, including indemnity, managed care, and high
deductible plans. |
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Dental |
| Dental insurance plans typically
pay for costs of normal dental care as well as damage to teeth
from an accident. Dental policies
also offer several options including Fee-for-Service plans, Preferred Provider and Dental
Maintenance Organizations (DMO), each with varying degrees of choice and
cost.
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Vision |
| Vision coverage generally
includes eye exams and a percentage of the cost of eyeglasses and/or
contact lenses. This benefit is
usually provided in the form of a Preferred Provider Network.
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Disability |
| Disability insurance is an
income replacement benefit that will provide an individual with money to
cover living expenses during a disability.
This form of insurance typically pays a percentage of salary for
a designated period of time.
Options include both short-term disability (STD) and long-term disability (LTD). |
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Life/AD&D |
Life insurance provides for a payment of a sum of money
upon the death of the insured. In addition, life insurance can be used
as a means of investment or saving.
Accidental death and dismemberment insurance (also known as AD&D) is a form of insurance covering death or specific types of injury as a result of an accident. In the event of accidental death, this insurance will typically pay benefits in addition to any life insurance held. Additionally, AD&D generally pays benefits for the loss of limbs, fingers, sight and permanent paralysis. The types of injuries covered and the amount paid vary by insurer and policy. |
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Long Term Care |
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Long Term Care insurance (LTC) provides
regular assistance with medical and personal expenses as a result of
a prolonged illness or disability.
LTC offerings vary from part-time home care to adult day care
to nursing facilities.
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Flexible Spending Account |
| A flexible spending account (FSA) is an IRS-sanctioned employer sponsored benefit plan which allows employees to set aside pre-tax wages to be used to pay for qualified healthcare or dependent care expenses. |
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Health Reimbursement Account |
| A health reimbursement
account (HRA) is an IRS-sanctioned arrangement that allows an employer to reimburse employees
for qualified healthcare expenses, similar to how an insurance plan will reimburse
covered individuals for the cost of services incurred.
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Health Savings Account |
A health savings account (HSA) is a personal or investment account that allows certain individuals to save and pay for qualified healthcare expenses, now or in the future. Contributions to an HSA are tax deductible, interest and investment earnings are tax-free and distributions for qualified healthcare expenses are tax-free.
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